Hope is on the rise that China's economy is growing steadily following a more encouraging performance in the manufacturing and service sectors in May.

The final reading of the HSBC/Markit Purchasing Managers Index for Chinese manufacturing was 49.4, up from April's 48.1 and the highest since February, according to figures released on Tuesday.

China's non-manufacturing PMI was 55.5, the government reported, 0.7 points higher than April, even though real estate remained sluggish nationwide.